SILVER - Call the Top

medoraman, it's interesting you think that. you might be right as i've never seen a poll. maybe it's just that the silver bears are so vocal and so many posted about selling. certainly it seems like i've seen a lot more posts about people selling rather than buying.

 

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A friend of mine sold 1/2 of his silver yesterday. He bought at $18-20/oz, by my recommendation. He has now recapped his investment, and is waiting for the 'over $50' to hit. He is grateful to me for recommending silver a couple of years ago. He will probably make about $1500 profit, which isn't a lot to some people, but he is a fellow tree climber on unemployment.
He got spot - $46.something.

 

you and your friend sound smart! selling half is brilliant as now he's playing with the "houses money" so to speak.

what do you mean "tree climber" ... do you mean tree trimmer?

 

WL...I think silver is in a bubble relative to industrial demand, but have no idea how long this speculative feeding frenzy will last.

I belong to a group you didn't mention..."true collectors"; collectors that buy for the historic or artistic value of an item and not the PM value. If I have paper gains or losses...so be it (I don't care...I ain't sell'n).

I like high PM prices because they produce some ridiculously low US Mint sales. I may have to start a second job just to collect the Platinum series...great designs and low mintages! ...who could ask for more?

 

A better name for the thread would have been "Call the bottom of the Dollar ?" However, in a short timeline. I would say $300. So do not through out those old Wiemar notes!!!

 

Yes, we work for a tree service. I've been climbing for 38 years.
I haven't fallen since I quit drinking 18 years ago.

 

I get the feeling that most of the posters on either side that are vocal on the board are not buying or selling in the 100 or 1000s of ounces range. People who are playing this "bubble" with options often are buying and selling paper PMs with stocks or even more leverage with options. Sure it is paper money, but well played, you have about the same loss risks in silver at this point (IMO) , with many times the leverage. Some of them play with options as those transactions still are not reported to the IRS like stocks, and we all know people who don't report PM sells now, so this appeals to those folks also. I am not advocating avoiding proper tax reporting.

If bullish is hoping it will go up as one wishes to make money, Yes, I am in that 10%. How high can it go? I really don't care as I will be trading in/out as it does.

But I am am also in the group that thinks the base line for silver is around $20-25, with current USD range and the rest is fear, greed, and a misunderstanding of world financial situation, often brought on by internet blogs and sites that know they can't retain visitors and income unless they have a "shock" value. So I am looking for a crash eventually of this bubble, as well as being in silver. All IMO.

Jim

 

At most I think it will go to $65-$69, as this is when all the private citizens who bought when it was $30/oz will try to sell, flooding the market. Anyone else find it as funny as I do that this price hike directly followed a bombardment of crappy, if ligitimate companies traveling around the country buying silver coins from motels. They depleted the wealth of most of the elderly and uninformed people, paying less than spot then. Now with all the marketing silver is getting since $30 they can buy it back! Hurry price will only go up! Nice circular motion, there!

 

I am thinking around $50 (maybe $55) by July 1st, and then a nice summer dip. acing: :thirst: TC

 

Infinity until a new currency is introduced.

 

I predict silver will top $50 in May 2011. Lots of momentum. As for the top, who knows? But it's going to take out the old high for sure.

 

That's strange. The Kitco quote shows the silver high to be $46.77. The Kitco close is $46.68.

EDIT: Since this is "Good Friday", that might have something to do with the different quotes that I am hearing on this forum and other forums.

 

I get my silver quotes from this web site ... they plug into overseas markets when the US Market is closed

http://www.goldeneaglecoin.com/

Here is where Silver went out today ... Bid=$47.73 Ask=$47.78

Up another $1+ today

 

http://www.kitco.com does the same thing. And they have an AP for that.

The Bloomburg and Kitco APs are on my phone.

 

Current trends lead me to suggest $70 by mid summer!!!!!!!!!!!!!!

 

that's interesting .... kitco says $46.68 .... goldeneaglecoins says $47.78

 

Yeah I noticed that too. I am going to go with the Kitco quote of $46.68. I believe Kitco over goldeneaglecoins but that is just me. Most of the local coin dealers I have done business with use Kitco. I have not even heard of Goldeneaglecoins until yesterday when people were saying that silver was at $47.78. I guess one way that we will find out the final spot price of silver is when the silver markets open up Sunday evening into Monday morning.

 

Here's another site with $47.78 ask:

http://www.thebulliondesk.com/

 

thanks jloring, yes I think that higher price close to $48 is right

i have been using the goldeneaglecoins website to track prices for years, and they've always been spot on.

 

Golden Eagle is my neighborhood coin store...good folks.